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Raghuram Rajan

Senior Fellow

Raghuram Rajan is a senior fellow at the Hoover Institution and is the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School.

Prior to that, he was the twenty-third governor of the Reserve Bank of India from 2013 to 2016, as well as the vice chairman of the board of the Bank for International Settlements from 2015 to 2016. He was the chief economist and director of research at the International Monetary Fund from 2003 to 2006. Rajan’s research interests are in banking, corporate finance, and economic development, especially the role finance plays in it. His latest book, The Third Pillar: How Markets and the State Leave the Community Behind, was released on February 2019 by Penguin Press. He coauthored Saving Capitalism from the Capitalists with Luigi Zingales in 2003. He then wrote Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times-Goldman Sachs prize for best business book in 2010. Rajan was the president of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences and the Group of Thirty.

In January 2003, the American Finance Association awarded him the inaugural Fischer Black Prize for the best finance researcher under the age of forty. The other awards he has received include the global Indian of the year award from NASSCOM in 2011, the Infosys prize for the Economic Sciences in 2012, the Deutsche Bank Prize for Financial Economics in 2013, and Euromoney magazine’s Central Banker of the Year Award 2014.

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Recent Commentary

In the News

Focusing On Ratings Is 'Nuts', Raghuram Rajan Wants India To Do Covid-Control First

featuring Raghuram Rajanvia Economic Times (India)
Wednesday, July 15, 2020

The government should not focus on credit ratings, given the current situation, and should instead put its attention towards reviving growth, former governor of the Reserve Bank of India Raghuram Rajan said.

In the News

Raghuram Rajan’s Bitter Medicine For India: ‘Sell PSUs Now, Don’t Wait, Stock Market Is Buoyant’

featuring Raghuram Rajanvia Financial Express
Thursday, July 9, 2020

On the privatisation front, Rajan raised a question asking while the government talked about privatisation, why it has not utilised these 4-5 months in preparing the entities which can be privatised.

In the News

'Full Economic Recovery To Take Very Long Time,' Says Raghuram Rajan On COVID-19 Impact

featuring Raghuram Rajanvia Business Today
Wednesday, July 8, 2020

Former Reserve Bank of India (RBI) governor Raghuram Rajan said on Wednesday mild signs of improvement in Indian economy are visible even though a lot needs to be done as the full recovery will take a long time.


Raghuram Rajan Says The Fed Is Doing A Fantastic Job

interview with Raghuram Rajanvia Bloomberg
Wednesday, June 10, 2020
Hoover Institution fellow Raghuram Rajan says the Federal Reserve is effectively supporting the markets during the Covid-19 pandemic but it is facing a short-term disinflation problem.
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National Coordination Needed To Reopen, Says Raghuram Rajan

interview with Raghuram Rajanvia Business Today
Saturday, June 6, 2020

Hoover Institution fellow Raghuram Rajan explains how unlocking India would be as big a challenge as locking it down was. 

In the News

RBI Can't Bail Out Every Company, Many Will Need To Run Through Bankruptcy: Raghuram Rajan

featuring Raghuram Rajanvia News 18
Friday, June 5, 2020
Former RBI Governor Raghuram Rajan on Friday said the central bank cannot bail out every company and many will need to run through the bankruptcy process.

Raghuram G. Rajan: How COVID-19 Could Prompt Global Cooperation

interview with Raghuram Rajanvia Chicago Booth Review
Tuesday, June 2, 2020

Hoover Institution fellow Raghuram Rajan discusses government responses to COVID-19 and how it could encourage global cooperation.


Raghuram Rajan: Covid-19 Will Be A 'Crushing Blow' For Emerging Markets

interview with Raghuram Rajanvia BBC
Thursday, May 28, 2020

Hoover Institution fellow Raghuram Rajan discusses the world post-COVID-19 and notes that many developing countries will struggle to recover from the economic impact of COVID-19.

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Raghuram Rajan: The Govt Package Has Some Good Elements But A Lot More Needs To Be Done

interview with Raghuram Rajanvia The Wire
Wednesday, May 27, 2020

Hoover Institution fellow Raghuram Rajan discusses the economic challenges created by COVID-19 and what governments can do to overcome them.

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Which Post-Pandemic Government?

by Raghuram Rajanvia Project Syndicate
Friday, May 22, 2020

Although the COVID-19 pandemic has shown why high-level coordination is sometimes necessary for managing emergencies, it has also underscored the risks of placing too much power in the hands of an incompetent central authority.